ISLAMABAD: The toll tax rate for Motorway-2 (Islamabad-Lahore) is increased by 10 percent, which would be effective from August 26, 2021.
M/s More, a subsidiary of the Frontier Work Organization (FWO), has decided to increase the toll tax rates by 10 percent of the M2 from 26 August.
Senior officials of the National Highways Authority (NHA) saying that the increased tax is the result of a 20-year agreement between the NHA and More, under which toll tax will be raised by 10 percent on 26 August every year.
The tax increase has only been applied to the M2 (Islamabad-Lahore). The M1 (Peshawar-Islamabad), the M3 (PindiBhattian-Faisalabad), the M4 (Shorkot-Multan), and the M5 (Multan-Sukkur) legs' toll tax rates remain the same for now.
A 10 percent hike was made on 26 August last year and it was reported then that the NHA had required around Rs92 billion for maintenance and renovation of the national highways.
Copyright Business Recorder, 2021